Gross Value Added (GVA)
What is the alternative term used alongside GDP to measure the industrial sector's contribution during the colonial period?
- Net National Product
- Gross Value Added — Correct Answer
- National Income
- Per Capita Income
Explanation:
Correct Answer Explanation
Gross Value Added (GVA) was used alongside GDP as a measure. The industrial sector's contribution to both remained very small during the colonial period.
Key Points:
- GVA measures the value of goods and services produced in an economy.
- The new industrial sector had very limited growth.
- Public sector was confined to railways, power, communications, and ports.
📚 About this Topic — CH-1: INDIAN ECONOMY ON THE EVE OF INDEPENDENCE
This multiple choice question is from CH-1: INDIAN ECONOMY ON THE EVE OF INDEPENDENCE, Indian Economic Development, NCERT Books. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-1: INDIAN ECONOMY ON THE EVE OF INDEPENDENCE to strengthen your preparation.
